In reference to my post on Saturday regarding HR 3221, the â€œHousing and Economic Recovery Act of 2008â€³, I discovered a site where there is a copy of the Congressional Budget Office Cost Estimate for HR 3221. Over the next ten years, according to the estimate, this bill will create a nearly $25 Billion deficit.
Another blogger, John D. Thornton, has some interesting insights regarding the OFHEO.
I’ve been getting some hits on Saturday’s post that are searches like this “explain the $7500 tax credit on the new housing bill that was just passed“. I’m glad to see there are people wanting to understand it better. This could be achille’s heel of the bill.
There is additional information available (this is where I found the cost estimate) at WashingtonWatch.com.